Elon Musk on Twitter made a big announcement saying that you could now buy a Tesla’s electric car with Bitcoin. He added that the company’s electric vehicles can now be bought using bitcoin and the option will be available outside the United States later this year.

“You can now buy a Tesla with bitcoin,” he tweeted on Wednesday, adding that bitcoin paid to Tesla will not be converted into conventional currency.

In February, Tesla bought $1.5 billion worth of bitcoin. In a filing with the United States’ Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.”

Bitcoin, the world’s biggest digital currency, rose more than 4% after Musk’s tweet and was last up 3.5% at $56,178.

Twitter had said earlier it was still undecided in holding bitcoin, while General Motors Co said it will evaluate whether bitcoin can be accepted as payment for its vehicles.

There was a slump in the value of Bitcoin, after US Federal Reserve Chairman Jerome Powell said that investing in cryptocurrencies, a speculative asset, is highly risky. He also stated cryptocurrencies can be a substitute for gold rather than for the dollar.

Tesla sales teams are currently working on building custom sales and production orders for the India market, ensuring orders are complete and validated once the configuration is finished.